LIC shares jumped 3.95 per cent to hit a high of Rs 952.50 on BSE. The stock was later trading at Rs 931.55, still up 1.67 per cent.

India's largest public sector insurer, Life Insurance Corporation of India (LIC) on Thursday (November 28) through the regulatory filing issued a clarification related to speculation about the company's potential acquisition of a 50 per cent stake in ManipalCigna Health Insurance.

LIC share price gained nearly 4% in early trade despite a sharp drop in the benchmark stock market indices. Shares of Life Insurance Corporation of India (LIC) rose nearly 4% in early trade after a media report indicated that the state-owned insurer has moved closer to acquiring half of ManipalCigna Health Insurance.

State-owned LIC's shares rose 2.4% on news of a potential 50% stake acquisition in ManipalCigna Health Insurance. This move would mark LIC's entry into the health insurance sector, diversifying its portfolio.